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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (9278)	2/26/1998 8:56:00 PM
From: Arnie	of 15196

ACQUISITION / Sterling Resources awarded 3 Onshore U.K. Blocks CALGARY, Feb. 26 /CNW/ - Sterling Resources Ltd. announces that it has been awarded three blocks onshore UK as part of the Eighth Round of licencing awards. Blocks SY59, SY69 and SY79 are located in the Wessex Basin in the county of Dorset in southern England, and are in close proximity and on trend with Wytch Farm, Europe's largest onshore oilfield. Sterling has a 45% equity interest in the three blocks with Bow Valley Petroleum (UK) Limited (operator at 45%) and Egdon Resources (UK) Ltd. (10%) as partners. Plans are to acquire seismic this year with a view to drilling the first well in 1999. Sterling is a Calgary based energy company engaged in the exploration, development and production of crude oil and natural gas in selected countries of the world. Sterling has interests in two exploration blocks in the Black Sea offshore Romania, and producing acreage in southern Alberta. The Company is evaluating other petroleum resource opportunities in Western Europe, the Middle East and North Africa. The common shares of Sterling Resources Ltd. are listed on the Alberta Stock Exchange under the symbol ''SLG''.

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